Market Trends of Candy Industry
This section covers the major market trends shaping the Candy Market according to our research experts:
Rising Demand for Sugar-free Candies
Due to increased health consciousness and desire for non/low-sugar chocolates/confectionery items, sugar-free candies have gained commercial momentum in recent years. The main explanation for the rise in demand for sugar-free confectionery among the general public is an increase in the number of diabetic people, According to data from the International Diabetes Federation, currently, 537 million individuals (20-79 years old) have diabetes. By 2030, there will be 643 million diabetics worldwide, and by 2045, there will be 783 million. These alarming numbers are expected to push the sales of Sugar-free candies globally.
Sugar-free candies are observing high growth in the global market, owing to the recent developments in the candy flavors, their appearance, and their mouthfeel. The majority of the manufacturers are focusing on product development in line with the organic food culture across the world. Further, due to constant emphasis on clean-labeled products and stricter government regulations on the amount of sugar content in food products, organic, vegan, GMO-free, and kosher food colors, sweeteners, and other ingredients are being used to manufacture sugar-free candies, which are likely to contribute to the growth of the category.
Asia Pacific Holds the Largest Share
The Asia Pacific region dominates the candy market and is expected to continue to do so over the projected period, with China and India emerging as the major markets for candy. This is due to the increased popularity of chocolate-based confectionery goods, the existence of significant players, and the main companies' increasing product introductions.
The growing population in the region has led to a high demand for candies, fueled by the impulsive purchase behavior of consumers. Many countries like India, China and Japan are witnessing campaigns and media advertisements related to innovative candy products, which are directly impacting the sales rate of sugar-based confectionery. Companies are increasingly launching products with innovative flavors such as raw mango, tamarind, and strawberry, among others, to attract consumers in these emerging markets. The candy Market in India is growing at the fastest rate in the region, where manufacturers are integrating new technologies and expanding production facilities have had a favorable influence on total demand growth.
